MADRID, 3 Jul. (EUROPA PRESS) -
The activity of the Spanish manufacturing sector deteriorated in June for the third consecutive month and has fallen to its lowest level so far this year, according to the PMI index, which has fallen to 48 points from 48.4 the previous month. according to the survey of S
"In Spain, there are signs of a slight recession in the manufacturing sector, or perhaps just stagnation," summed up Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, for whom the weakness in the manufacturing sector may continue for some months more, given the drop in new orders.
However, the expert stressed that the slowdown in manufacturing activity in Spain is unlikely to be particularly deep, as surveyed companies are only now starting to cut staff and backlogs provide some stability.
In this sense, the June survey indicates that, despite being slight, the Spanish factories undertook the first downsizing since November of last year.
Also, despite the decline in manufacturing employment, the latest survey data continues to show an element of overcapacity within the Spanish manufacturing sector, as backlogs fell for the 13th consecutive month and declined at the strongest pace in the past. what's up this year